× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
6
o
5
5
b
4
s
3
j
3
b
3
m
3
K
3
g
3
L
3
w
3
New Topic  
les123456 les123456
wrote...
Posts: 319
Rep: 0 0
5 years ago
Kenny and Jeff form a partnership.  During the year, Kenny and Jeff withdraw $32,000 and $22,000, respectively. Which of the following will be included in the journal entry to record the withdrawals?
A) debit to Kenny, Withdrawals for $32,000
B) debit to Jeff, Withdrawals for $27,000
C) credit to Kenny, Withdrawals for $27,000
D) credit to Jeff, Withdrawals for $22,000
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
Read 112 times
1 Reply

Related Topics

Replies
wrote...
5 years ago
 A
Explanation:  A) The journal entry to record withdrawals will include a debit to the partner's Withdrawal account and a credit to the Cash account.
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  1127 People Browsing
Related Images
  
 998
  
 340
  
 927
Your Opinion
Which is the best fuel for late night cramming?
Votes: 146